InfoBytes Blog
SEC awards $1 million to whistleblower
On June 24, the SEC announced that it awarded a whistleblower more than $1 million for providing information that, according to the redacted order, led to multiple successful SEC enforcement actions. The SEC noted that the whistleblower provided valuable information and ongoing assistance, participated in interviews with enforcement staff, and helped staff understand key players in the investigation. The whistleblower also helped conserve significant staff time and resources by providing information that was otherwise inaccessible to staff and suffered personal and professional hardships. The SEC added that there was also “substantial law enforcement interest in the information.”
The SEC has awarded approximately $938 million to 179 individuals since issuing its first award in 2012.